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INVESTMENT ANNUITIES

Shadow pensions minister Gregg McClymont has reiterated his call to remove the restrictions on the National Employment Savings Trust (NEST) so it can compete more effectively with its rivals.

More than 6 million people aged over 50 have no pension provision in place and look set to rely solely on the state when they stop working, research has found.

LV= has added a break clause to its fixed term annuity product which allows retirees to exit should their circumstances change.

Sesame Bankhall Group (SBG) has announced the product providers for its restricted advice offering, due to be launched in Q3.

LV= has appointed Katherine Oxenham as business development manager for its retirement solutions business.

Retirement Planner's round-up of the top pension stories this week.

Corporate wraps giving 'blue collar' workers access to self-invested personal pension (SIPP) products will never break through traditional barriers like employee engagement, according to LV=.

LV= retirement business has increased sales by 15% to £142m and profits by 20% to £33.7m in the last year, business results have revealed.

ANNUITY 'SHOP'